**Provision for Doubtful Debts**

The provision for doubtful debts is a reserve set aside by a business to account for potential losses arising from customers who may not be able to pay their debts. It is an estimate made by the business based on historical data and experience. In this case, the provision for doubtful debts is calculated at 5% of the total debtors.

1. Calculate the provision for doubtful debts:
- Debtors: ₹61,000
- Provision for doubtful debts (5% of debtors): ₹61,000 * 5/100 = ₹3,050

2. Deduct the amount due from Shyam:
- Amount due from Shyam: ₹1,000
- Adjusted debtors: ₹61,000 - ₹1,000 = ₹60,000

3. Adjust the provision for doubtful debts after excluding Shyam's amount:
- Adjusted provision for doubtful debts (5% of adjusted debtors): ₹60,000 * 5/100 = ₹3,000

**Provision for Discount on Debtors**

The provision for discount on debtors is a reserve set aside by a business to account for potential discounts offered to customers for early payment. It is an estimate made by the business based on historical data and experience. In this case, the provision for discount on debtors is calculated at 2% of the total debtors.

1. Calculate the provision for discount on debtors:
- Debtors: ₹61,000
- Provision for discount on debtors (2% of debtors): ₹61,000 * 2/100 = ₹1,220

2. Deduct the amount due from Shyam:
- Amount due from Shyam: ₹1,000
- Adjusted debtors: ₹61,000 - ₹1,000 = ₹60,000

3. Adjust the provision for discount on debtors after excluding Shyam's amount:
- Adjusted provision for discount on debtors (2% of adjusted debtors): ₹60,000 * 2/100 = ₹1,200

**Provision for Discount on Creditors**

The provision for discount on creditors is a reserve set aside by a business to account for potential discounts received from suppliers for early payment. It is an estimate made by the business based on historical data and experience. In this case, the provision for discount on creditors is calculated at 2% of the total creditors.

1. Calculate the provision for discount on creditors:
- Creditors: ₹33,000
- Provision for discount on creditors (2% of creditors): ₹33,000 * 2/100 = ₹660

2. Deduct the amount due to Shyam:
- Amount due to Shyam: ₹3,000
- Adjusted creditors: ₹33,000 - ₹3,000 = ₹30,000

3. Adjust the provision for discount on creditors after excluding Shyam's amount:
- Adjusted provision for discount on creditors (2% of adjusted creditors): ₹30,000 * 2/100 = ₹600

In summary, the provision for doubtful debts is ₹3,000, the provision for discount on debtors is ₹1,200, and the provision for discount on creditors is ₹600. These provisions are made to account for potential losses